1893-S Morgan Silver Dollar

By 1893, the US was engulfed in a severe
economic depression. The Sherman Silver Purchase Act of 1890 required
the US government to purchase 4.5 million ounces of silver bullion
monthly, but unexpectedly resulted in the depletion of federal gold
reserves, pushing the nation to the brink of bankruptcy.

The massive influx of silver into the Treasury Department led to the
coining of millions of unneeded silver dollars, most of which were
stockpiled in federal vaults.

Soon after taking office in March 1893,
President Grover Cleveland
successfully pushed for the repeal of the Sherman Act. Morgan Silver
Dollar production plunged dramatically, down 77% from the previous
year, and down 96% from 1890, the first year of the Sherman Act.

Against this ominous backdrop, only 100,000 silver dollars were struck
at the San Francisco Mint in 1893, leaving few examples for collectors
of today to scramble for.

The 1893-S is the granddaddy of all business
strike Morgan dollars in terms of rarity and desirability. Few US coins
can match the impressive rise in value and consistency of the 1893-S
Morgan Silver Dollar.

1893-S Morgan Silver Dollar (F-12 Condition)

As one might expect of one of the most
important key dates in one of the most popular coin collector series,
the Morgan Silver Dollar, the 1893-S has consistently shown amazing
price increase consistency. Using Year 2000 as a baseline, the 1893-S
Morgan Silver Dollar has multiplied in value many times, as charted by
the blue line above. The red line charts the progress of the Rare Coin Values Index, which is composite
percent change of a pre-selected group of 87 rare US coins. The Index
baseline is year 2000 likewise. The objective of the Index is to follow
the direction of the
overall rare US coin market. The 1893-S Morgan Silver Dollar is one of
the 87 coins that comprise the Index. Every month, the Index chart is
updated.